Debtors – A person or a legal body that owes money to a business is generally referred to as a debtor in the eyes of that business, as he or she owes the money. For a business, the amount to be received is usually a result of a loan provided, goods sold on credit, etc. […]
Commercial paper is usually issued at a discount from face value and reflects prevailing market interest rates, and is useful because these liabilities do not need to be registered with the SEC. That is to say, notes and loans are usually listed first, then accounts payable, and finally accrued liabilities and taxes. Typically, vendors provide …
A creditor is an individual or institution that extends credit to another party to borrow money usually by a loan agreement or contract. On secured loans, creditors can repossess collateral like homes or cars and creditors can sue debtors for repayment of unsecured loans. The Fair Debt Collection Practices Act (FDCPA) established ethical …
Recording a credit memo’s journal entry is a must for an income statement or net sales revenue. In bank reconciliations, a credit memorandum is a document issued to inform depositors that an account balance for a transaction has gone up. No matter why you need to change an invoice, QuickBooks’ invoicing software makes issuing and …
Again, you’ll want to check with your state board of accountancy to see what type of experience you’ll need, the exact amount of hours and if part-time work is accepted. All CPAs must have a bachelor’s degree and 150 semester (225 quarter) hours. However, the specific amount of upper-level accounting courses, business …
Check out the Chase Auto Education Center to get car guidance from a trusted source. Both of these instruments offer some form of protection if they get lost or stolen. If anybody pays you with one of these instruments and then asks you to return money, it’s most likely a scam. All users of our […]